Altcoin Newsletter #222
Features HBAR SHIB AERO HYPE POPCAT ALGO DOT
Welcome to the Rekt Capital Newsletter, a resource for investors who want to better navigate the crypto markets with the help of cutting-edge crypto research and unbiased market analysis.
In today’s Altcoin newsletter I cover the following Altcoins - specifically:
- Hedera Hashgraph (HBAR)
- Shiba Inu (SHIB)
- Aerodrome Finance (AERO)
- Hyperliquid (HYPE)
- Popcat (POPCAT)
- Algorand (ALGO)
- Polkadot (DOT)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Hedera Hashgraph - HBAR/USDT
In late January, I spoke about how HBAR was showcasing so many signs of positioning itself for a retrace based on historical tendencies.
Here's that initial analysis:
And earlier this month, price indeed followed through on history with a revisit into the orange circled area:
Price has since successfully retested the red area as support and followed the blue path to reverse to the upside:
And for those following this analysis closely, the RSI that we'd discussed in recent weeks has actually broken its Downtrend:
As a result, emerging strength is on full display on the RSI and this is translating into price.
HBAR will need to Weekly Close inside and/or above its current red boxed resistance to continue its newfound momentum (blue path):
After all, the green circled instance in mid-2021 shows that such a technical milestone could enable upside for HBAR and seeing as history has been repeating itself near perfectly, perhaps history may continue to repeat?
Shiba Inu - SHIB/USDT
SHIB is showcasing a Bullish Divergence on the Weekly.
Lower Lows on the price action and Higher Lows on the RSI.
This is a positive sign which should enable SHIB to Monthly Close above the blue horizontal:
The blue horizontal is the most important level for SHIB right now.
Because price is trying to resynchronise with its macro triangular market structure after the downside deviation into the blue historical demand area (which acted as resistance throughout 2023).
Can the Weekly Bull Div enable SHIB to Monthly Close above the blue level?
If so, the green path would be very much in play, with scope for a decent level of downside volatility as part of the retest.